China’s central bank says will gradually set up rules to regulate fintech

Headquarters of the People’s Bank of China (PBOC), the central bank, is pictured in Beijing, China September 28, 2018. REUTERS/Jason Lee

March 16, 2019

SHANGHAI (Reuters) – China’s central bank said on Saturday it will gradually set up a system of rules to regulate fintech, and will fully utilize the technology to optimize the flow of credit and reduce financing costs for businesses.

The People’s Bank of China (PBOC), in a statement on its website, also said it would enhance the application of new technologies in regulation, and improve the ability to prevent risks.

Post Calendar

Finance Minister Olaf Scholz addresses a news conference to present the budget plans for 2019 and the upcoming years in Berlin, Germany March 20, 2019. REUTERS/Fabrizio Bensch March 20, 2019 BERLIN (Reuters) – With solid public finances and a vibrant domestic economy, Germany is well placed to withstand headwinds from a weakening world economy, trade […]

FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., March 13, 2019. REUTERS/Brendan McDermid March 20, 2019 By Medha Singh (Reuters) – U.S. stock futures were little changed on Wednesday as investors waited for more clarity on the Federal Reserve’s interest rate outlook for the year, […]

FILE PHOTO: An attendant walks past EU and China flags ahead of the EU-China High-level Economic Dialogue at Diaoyutai State Guesthouse in Beijing, China June 25, 2018. REUTERS/Jason Lee March 20, 2019 BRUSSELS (Reuters) – European Union leaders will coordinate their positions on Thursday evening on a number of issues they intend to raise with […]

FILE PHOTO: A Federal Express delivery truck is shown in downtown Los Angeles, California, U.S., October 24, 2018. REUTERS/Mike Blake March 20, 2019 (Reuters) – Shares of FedEx Corp fell about 7 percent before the bell on Wednesday after the package delivery company cut its 2019 profit forecast for the second time blaming slowing global […]

FILE PHOTO: Moldovan President Igor Dodon addresses the media as he visits a polling station during a parliamentary election in Chisinau, Moldova February 24, 2019. REUTERS/Vladislav Culiomza March 20, 2019 Source: OANN

President Donald Trump jabbed Democrats, saying they are getting very “strange” for a series of proposals from presidential hopefuls. Trump’s comments came in a tweet shortly after midnight Wednesday. He wrote: “The Democrats are getting very ‘strange.’ They now want to change the voting age to 16, abolish the Electoral College, and Increase significantly the […]